And active relationships between our Computer Emergency Readiness Team and certs that are being stood up all around the world by countries. The uk has just stood up a new cert. They had a couple certs before that and stood up a new one to act as a fuller counter part. But there are certs in lots of counties with which they interact on a daily basis. And that is obviously essential. These threats i mean, its most obvious in cyber but it is true across the board, you know, Mother Nature doesnt really know borders and we saw that as we contemplating the potential consequences of the aftereffects of the tsunami in japan. Terrorism clearly is a transnational crime. We have to have that international piece. The tenyear, again, the landscape changes so rapidly that it is an incredibly hard challenge to think about what we might confront. But i will tell you my sort of utopian vision for where i would like to see us heading and where i would like to see us closer to in ten years. You know, aga
Have grown through mergers and acquisitions and that have acquired companies and later find out after they have connected all their networks and systems, that that company that they acquired did not have good cyber hygiene and was riddled with problems that have now infected the entire network. Lawyers need to help with that. Auditors need to help with that. Venture capitalists. Were out talking to venture capitalists to say if youre investing in a company, youre investing in large part in that intellectual property, and if you havent done the Due Diligence to assure yourself that they have good cyber hygiene and have taken appropriate care to protect that information, you are throwing your money down a rat hole because that intellectual property is going out the back door. Attorneys in this room and your colleagues work with these folks on a daily basis. I need your help in spreading the word. The more secure any one of us becomes, the more secure all of us are. This is a this is a jo
The time i was in government you could count how many . It depends on the government policies. A strong and secure economy is needed. There are too many children. 100,000 children in scotland moving into poverty. Is that up price is that a price worth paying for the westminster government . The labour party they said that they will continue with labour the labour policies area, is that a price worth paying . As a society i said we had it an obligation to get the children out of policy. Stop interrupting. You as a government have cut one billion pounds from the antipoverty program. Most of whom only have one way out of poverty. You as a government have cut one 100,000 people with a and so, why are you standing here defending this success . Disability, these are the people suffering the westminster government. They can start with the resources cutting back on the money from the scottish government. The amount of money, the amount of money being spent on the Health Service has increased.
Need to leave. Any comments on that. Steve, do you want to start . Sure, i can address that. I do not think shifting to a territorial system is right. The two problems that weve highlighted here are earning stripping and the deferred accumulated earnings of these controlled foreign corporations. If we shift to a territorial system in which a u. S. Company is only taxed on its u. S. Source income, and not taxed on its foreign income, there will be all the more incentive for multinationals to strip income from the u. S. Base and shift it abroad. Isnt that the first step and then you deal with all those issues let me finish my answer. So as part of any consideration of territorial, we need to address the earnings stripping issues that were discussing here. One of the observations professor shay made in his article, he wanted treasury to adopt regulations that could fold into tax reform and weve got to address earning stripping and we have to do it sensibly and i think we could fold that i
Tax rate of those companies to be reduced. And thats why were talking about this subject. So it appears that having a bow tie is not an indication of prof sor yal stature but tax planning. John, you started us off by talking about the fact that your view, this set of practices were a symptom of a larger set of drivers in the Corporate Tax structure and that ultimately and i think you wouldnt get any disagreement with anyone here we need to be addressing those larger drivers. But in the context of the current debate, first of all, can i ask you to ask would the measures that steve and steve have put on the table be effective and then we can go beyond that to say should treasury take it. Lets start with the effective. So the answer is i dont think so. But theres an overarching point before i get back into the weeds which is why are we trying to raise the bar so it will be harder for companies to leave the United States. Why arent we trying to do something to make it more attractive for t